Wednesday 12 February 2014

BF Utilities firms up on plans of forming JV with Premier Explosives

BF Utilities is currently trading at Rs. 545.00, up by 2.45 points or 0.45% from its previous closing of Rs. 542.55 on the BSE.

The scrip opened at Rs. 540.00 and has touched a high and low of Rs. 551.85 and Rs. 530.00 respectively. So far 964 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 5 has touched a 52 week high of Rs. 669.70 on 13-Jan-2014 and a 52 week low of Rs. 118.10 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 600.00 and Rs. 535.25 respectively. The current market cap of the company is Rs. 2034.05 crore.

The promoters holding in the company stood at 66.06% while Institutions and Non-Institutions held 1.06% and 32.88% respectively.

BF Utilities has entered into a Memorandum of Understanding (MoU) with Premier Explosives to consider forming a joint venture company (JVC) to participate in the indigenisation of defence products. The MoU has been signed on February 07, 2014, at Defexpo India 2014, New Delhi.

BF Utilities is engaged in power generation through wind mill technology. The company was set up to satiate the power requirements of the Kalyani Group companies, which have business interests in areas of steel making, forging, machining, etc.

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